Sha re ho lde rs Pre se nta tio n April 17, 2008 W Ma jo r De ve - - PDF document

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Sha re ho lde rs Pre se nta tio n April 17, 2008 W Ma jo r De ve - - PDF document

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Sha re ho lde rs Pre se nta tio n April 17, 2008 W Ma jo r De ve lo pme nts in E RVI F Y2007 OVE Br ande d Consume r F oods (Philippine s) Split the Sna c ks a nd Bisc uits te rtia ry sa le s fo rc e to impro ve c o ve ra g e

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SLIDE 1

Sha re ho lde rs Pre se nta tio n

April 17, 2008

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SLIDE 2

Br ande d Consume r F

  • ods (Inte r

national)

  • E

xpa nde d b isc uits pro duc tio n c a pa c ity in T ha ila nd a nd put a ne w b isc uits pro duc tio n line in Vie tna m Cor por ate

  • So ld a ll URC-o wne d Ro b inso ns L

a nd Co rpo ra tio n sha re s during RL C’ s fo llo w o n

  • ffe ring in Oc to b e r 2006

Br ande d Consume r F

  • ods (Philippine s)
  • Split the Sna c ks a nd Bisc uits te rtia ry sa le s fo rc e to impro ve c o ve ra g e in

do wnsc a le a c c o unts

  • Ac q uire d the wa te r b usine ss o f Ne stle Wa te rs Philippine s
  • E

xpa nde d c o ffe e c a pa c itie s in o ur Ro sa rio c o ffe e pla nt; c o nc lude d le a sing a g re e me nt fo r a dditio na l c o ffe e ma nufa c turing c a pa c ity Commodity F

  • ods
  • Co mple te d c o nstruc tio n o f sug a r re fine ry in SONE

DCO with 15,000 L K G c a pa c ity

  • E

nte re d ne g o tia tio ns to purc ha se PASSI , la rg e st sug a r mille r in Pa na y

OVE RVI E W

Ma jo r De ve lo pme nts in F Y2007

1

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SLIDE 3

Q1 2008

Hig hlig hts

F I NANCI AL PE RF ORMANCE

Net Sa les 10,000 20,000 30,000 40,000 Ope ra ting Inc o me 1,000 2,000 3,000 4,000 Core Ea rning s 1,000 2,000 3,000 4,000

BCF G* 28,370 +7% 8,316 +17% Ag ro - I ndustria l 5,649 +11% +6%

+7%

+10% Co mmo dity F

  • o ds (Ne t)

3,702 1,494 1,049 +42%

T

  • tal UR

C 37,721 10,859 +18%

BCF G* 1,813 +30% 614 +50% Ag ro - I ndustria l 810 +10% +22%

+18%

(19%) Co mmo dity F

  • o ds

1,306 135 302 Co rpo ra te (749) (134) +16%

T

  • tal UR

C 3,180 917 +26%

Ope r ating Inc ome (PhP MM)

* BCF G fig ure s inc lude Do me stic , I nte rna tio na l, a nd Pa c ka g ing

2,701

F Y 2007

3,180 35,184 37,721 2,913 3,243

Sale s (PhP MM)

FY2007 FY2006

2

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SLIDE 4

Bra nde d Co nsume r F

  • o ds - Philippine s

F I NANCI AL PE RF ORMANCE

Sna c kfo o ds 1,617 +12% 501 +49% Be ve ra g e 639 +24% (0%) (44%)

+14%

+34% Gro c e ry (36) 139 32 Othe rs 32 (13) (263%) +23%

T

  • tal

2,252 659 +39%

Ope r ating Inc ome (PhP MM)

Sna c kfo o ds 11,760 +8% 3,508 +22% Be ve ra g e 5,360 +50% (4%) +7%

+15%

+25% Gro c e ry 2,222 1,497 682 Othe rs 795 245 +20% +5%

T

  • tal

20,137 5,932 +20%

Sale s (PhP MM) Q1 2008 F Y 2007

  • Do me stic ma rke t re c o ve rs

fro m slo w g ro wth in pre vio us ye a r

  • Sna c kfo o ds g ro ws o n

impro ve d de ma nd a nd split o f Sna c ks/ Bisc uits sa le s fo rc e

  • Be ve ra g e c o ntinue s to

drive ma rke t g ro wth

  • Gro c e ry hit b y rising input

pric e s, b ut no w re c o ve ring

  • E

xpo rts a ffe c te d b y rising Philippine pe so

No te : E xc lude s pac kaging

3

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SLIDE 5

1000 1200 1400 1600 1800 2000 2200 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep (PhP millions) FY2008 FY2007 FY2006 2000 4000 6000 8000 10000 12000 14000 J u n

  • 4

S e p

  • 4

D e c

  • 4

M a r

  • 5

J u n

  • 5

S e p

  • 5

D e c

  • 5

M a r

  • 6

J u n

  • 6

S e p

  • 6

D e c

  • 6

M a r

  • 7

J u n

  • 7

S e p

  • 7

D e c

  • 7

Snac kfoods gr

  • wing ste adily

C2 sales volume (‘000 liters) BCFG Domestic Sales

10,652

PHI L I PPI NE MARK E T

Dome stic sale s sur ging; be ve r age gr

  • wth c ontinue s

Cho c o la te s +10% So ft/ Ha rd Ca ndie s +8% Bisc uits +0% RT E – Be a ns +1% I nsta nt No o dle s

  • 1%

T

  • ma to Sa uc e
  • 10%

Sna c ks +5%

Sour c e : AC Nie lse n Cate gor y T r e nd Sur ve y – MAT De c 2007; volume gr

  • wth

3-in-1 c o ffe e +56% T e a +41% Pa c ka g e d wa te r +9% Ca rb o na te d so ft drink +5% Re a dy to drink – Juic e +5% I so to nic drinks +47% E ne rg y drinks +19% Re a dy to drink – Co ffe e +9% 4

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SLIDE 6

Bra nde d Co nsume r F

  • o ds - I

nte rna tio na l

F I NANCI AL PE RF ORMANCE

Ope r ating Inc ome (US

$ MM)

T ha ila nd 4.6 (1%) 1.8 +1% Ma la ysia / SG 0.7 (10%) 0.1 (44%) (82%) +39% (20%)

+15%

(0.6) (1.3) Vie tna m (3.8) (0.8) +28%

(0.8)

I ndo ne sia (3.1) (284%) China / HK (5.2) +9%

T

  • tal

(7.0) (12% )

Sale s (U

S $ MM)

Q1 2008 F Y 2007

T ha ila nd 75 +21% 24 +24% Ma la ysia / SG 32 +5% 8 +24% (25%) (32%) +32%

+1%

6 5 Vie tna m 6 4 +176%

47

I ndo ne sia 23 (13%) China / HK 14 +48%

T

  • tal

150 +25%

  • Ope ra ting lo sse s in China

b e ing te mpe re d

  • Sa le s so a ring in T

ha ila nd a nd Vie tna m

  • C2 sa le s vo lume in

Vie tna m g ro wing ste a dily, re a c hing 400,000 c a se s in De c e mb e r 2007

  • C2 no w b e ing e xpo rte d to

T ha ila nd

5

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SLIDE 7

Ag ro -I ndustria l Gro up

F I NANCI AL PE RF ORMANCE

URC F e e d s

  • Rising c o sts o f inputs suc h

a s c o rn a nd fe e d whe a t URC F a rms

  • Hig he r pric e s c a use d b y

lo we re d supply due to dise a se o utb re a ks

Ope r ating Inc ome (PhP MM) Sale s (PhP MM) Q1 2008 F Y 2007

F e e ds 411 (3%) 64 (27%) F a rms 399 +28% 71 (9%)

+10% 135 T

  • tal

810 (19%)

F e e ds 2,637 +19% 683 +8% F a rms 3,012 +5% 811 +12%

+11% 1,494 T

  • tal

5,649 +10%

6

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SLIDE 8

Co mmo dity F

  • o ds Gro up

F I NANCI AL PE RF ORMANCE

URC Sug a r

  • Mill e xpa nsio n finishe d in

time fo r 2008 milling se a so n

  • PASSI

sug a r mill a c q uire d in Oc to b e r URC F lo ur

  • Whe a t pric e s inc re a sing

wo rld wid e

Ope r ating Inc ome (PhP MM) Sale s (PhP MM) Q1 2008 F Y 2007

F lo ur 453 +9% 139 +45% Sug a r 853 +30% 163 (1%)

+22% 302 T

  • tal

1,306 +16%

F lo ur 3,604 +2% 1,280 +36% Sug a r 2,698 +30% 495 +16% Sub to ta l 6,302 +13% 1,775 +30% T ra nsfe rs (2,600) +24% (726) +15%

+6% 1,049 T

  • tal

3,702 +42%

7

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SLIDE 9

Asse ts a nd L ia b ilitie s

F I NANCI AL PE RF ORMANCE

Gr

  • ss De bt and Cash (PhP MM)

F Y 2007

Re ta ine d E a rning s 20,300 20,545 Othe r E q uity 14,696 14,170

34,715 T

  • tal E

quity 34,996

5,000 10,000 15,000 20,000 25,000

FY2007 Q1 FY2008

Cash, Mkt. Se c uri ti e s, T e m p. I nve stm e nts Gro ss De b t

Q1 F Y2008

Ca sh a nd Ca sh E q uiva le nts 21,592 19,669 Othe r Curre nt Asse ts 11,747 13,536 Pro pe rty Pla nt a nd E q uipme nt – ne t 22,267 22,504 Othe r no n-c urre nt Asse ts 3,068 3,162

58,871 T

  • tal Asse ts

58,674

Curre nt L ia b ilitie s 14,162 15,328 No nc urre nt L ia b ilitie s 9,516 8,828

24,156 T

  • tal L

iabilitie s 23,678

18.831 21,592 18.977 19,669 (PhP MM)

Balanc e She e t 8

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SLIDE 10

PL ANS

Pla ns a nd E xpe c ta tio ns

Cor por ate

  • Pa id o ff URC 08 b o nd
  • Co ntinue 50% divide nd pa y-o ut po lic y
  • Pursue M&A tha t will a dd va lue to the c o mpa ny
  • Ca pita l e xpe nditure s o f a b o ut P3 b illio n in F

Y2008

  • Sto c k b uy-b a c k pro g ra m

E xpe c tations

  • Po sitive tre nds in do me stic BCF

G to c o ntinue , e spe c ia lly in sna c kfo o ds

  • F

urthe r re c o ve ry in inte rna tio na l vo lume s, pa rtic ula rly in T ha ila nd a nd Vie tna m

  • Go o d vo lume s b ut ma rg in pre ssure in flo ur, fe e ds, a nd fa rms; ma rg in

re c o ve ry to wa rds the se c o nd q ua rte r o f the fisc a l ye a r

  • Re ve nue a nd E

BI T g ro wing in the mid-te e ns 9

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SLIDE 11

T he E nd

10